467,000 BTC Flow to Exchanges: Profit-Taking Risk Looms as Share of Profitable Holders Increases

As the value of the 467,000 BTC moved to exchanges by short-term holders since August 17 has reached $35.4 billion, profitable coins have become dominant in the flows.

The profitability status of assets sent to exchanges by investors who recently purchased Bitcoin has changed. CryptoQuant views this transformation as a shift from a period of capitulation at a loss to a potential profit realization trend. However, Bitcoins sent to exchanges do not indicate that the selling is complete on their own.

According to the data, approximately 467,000 BTC have been transferred to exchanges since August 17. The total value of this amount is calculated at approximately $35.4 billion. The notable aspect of the flow is that an increasingly larger portion of the sent coins are in profit.

In the previous period, coins in loss were more prominent among the Bitcoins sent to exchanges. This picture pointed to a process where short-term investors exited at a loss in the face of price drops. The fact that green bars have gained weight in recent flows shows that investors have the option to sell their Bitcoin at a profit.

Profitable coins stand out in Bitcoin flows

Exchange data reveals a significant change in the composition of Bitcoin moved to exchanges. The dominance of profitable coins suggests that the supply coming to exchanges may now be used more for the purpose of locking in gains than for forced sales at a loss.

However, the movement of profitable assets by short-term holders indicates that there is more Bitcoin available for potential profit-taking in the market.